Nigeria: 'N5 Trillion Textile Industry Needs Trade, Not Monetary Policy'

Citing the consequence of deploying a one-size fits all solution to issues, the Lagos Chamber of Commerce and Industry (LCCI) has said what the N5 trillion textile industry needed most was trade policy and not monetary for its effective delivery.

According to the chamber, the starting point is to strengthen the capacity of domestic industries and enhance their competitiveness, considering that the industry had been a beneficiary of several fiscal incentives and protectionist measures over the years, yet remained in stagnation.

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